An independent auditor’s report on the fiscal year that ended June 30 shows the city of Woodstock’s financial status has improved.
Certified Public Accountant James Whitaker noted improvements in such areas as city revenues and net income in a report to the city council Monday night. He said the balance in the city’s general fund, its chief operating fund, has jumped to $2,083,000. He said the city had made great strides in the past two of three years, after reporting a negative general fund balance in the fiscal year ending June 30, 2012.
Whitaker attributed that both to better accounting controls, and to better training of city financial staff.
The city’s net position increased just over $5 million to some $34.9 million last year, with revenues increasing more than $3.7 million to $31.5 million while expenses totaled some $26.4 million, he added.
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